Punjab & Sind Bank Chief Manager commits suicide in Chandigarh

A shocking news has come to light from Punjab & Sind Bank in Chandigarh. A Chief Manager working in Chandigarh has committed suicide. He was posted at Aero City Branch, SAS Nagar, Mohali District.

As per the latest information received, Mr. Bhupinder – a Chief Manager working in Punjab & Sind Bank was missing in Chandigarh since last night after he left the branch. Later His body was recovered from the Canal near Chuni Kalan.

A suicide note was found in which he apologised for taking this step and named 6–7 NPA accounts at Sector 22 Branch, alleging that the parties involved had trapped him in the matter.

According to preliminary information, a loan of around ₹3.5 crore for commercial vehicles was reportedly sanctioned under pressure from a senior official at the Head Office through an agent who allegedly had close links with senior officials.

It is also alleged that the agent was not an approved Direct Selling Agent (DSA) of the Bank. The allegations further suggest that some other fictitious loans were disbursed to prevent the original loan from becoming a Non-Performing Asset (NPA). The Chief Manager was reportedly under considerable stress and pressure for the last two years.

The new branch manager raised serious questions about the matter. The Bank asked Mr. Bhupinder to reveal the truth and warned him about the possibility of CBI arrest and investigation. Subsequently, Mr. Bhupinder died by suicide.

According to the note, the resulting financial loss was nearly ₹75 lakh. He also mentioned that he had been depositing loan repayments from his own pocket and had personally paid approximately ₹23–25 lakh towards these accounts.

In the suicide note, he mentioned about a term insurance plan that would help meet his family’s financial needs in the future. Tragically, he was the only son of his parents and leaves behind a 10-year-old daughter who is currently studying in Class 6.